Solar pioneer Meyer Burger Technology has successfully secured €200 million in funding from the EU Innovation Fund. The project named “HOPE” (High-efficiency Onshore PV module production in Europe), emerged victorious in the competitive EU-wide selection process, making it eligible for the funding. The EU Commission’s decision was officially announced, marking a pivotal moment for the solar industry’s expansion in Germany and potentially Spain.
Among the eleven chosen projects for EU funding under the “Clean Tech Manufacturing” segment, HOPE stands out as a game-changer for photovoltaic production. Meyer Burger’s plan is to establish an additional 3.5 gigawatts of production capacity for solar cells and solar modules, signifying a remarkable step towards boosting renewable energy in the region.
With an impressive 239 projects applying for the EU Innovation Fund’s current tender of €3.6 billion, only 41 were successful, reaffirming the competitive nature of the selection process. The EU Commission, through this initiative, aims not only to accelerate the decarbonization of the energy system but also to drive the transformation of industries towards more sustainable practices. Moreover, it seeks to enhance the resilience of supply chains in the solar sector, ensuring a stable and efficient growth in renewable energy production.
Gunter Erfurt, the CEO of Meyer Burger, expressed his enthusiasm about the EU Commission’s support for their project. “We are very pleased that the EU Commission wants to support our project,” he said, highlighting the profound impact this funding will have on advancing their vision of sustainable solar energy. The investment not only solidifies Meyer Burger’s position as a leader in the industry but also paves the way for more innovative solutions in the future.
Meyer Burger’s successful application for €200 million in funding from the EU Innovation Fund signifies a significant milestone in the pursuit of clean and sustainable energy solutions. The HOPE project’s realization promises to bring 3.5 gigawatts of additional solar cell and module production capacity to Europe, propelling the continent towards a greener and brighter future. As the EU continues to invest in groundbreaking ventures that foster innovation and decarbonization, the entire solar industry can look forward to a transformative journey ahead.
